Carlsberg H1 2017 by region - results data

In mid-August, Carlsberg reported a 2% rise in first-half sales, with profits up by 23%. Here`s a breakdown of the brewer's figures in the period by region.

Carlsberg Half-Year 2017 - Net Sales by Region

• Western Europe - Sales -1%, operating profits +14%, volumes -1%
Carlsberg delivered a healthy jump in profits in the region despite volumes and sales declines, thanks to an impressive 1.6 percentage points margin expansion. Volumes were impacted by the comparable with Euro 2016 last year, however costs were also lower because of last year's investment in the month-long football tournament.

Volumes in the UK were down 7% because of Euro 2016, but organic sales were flat as Carlsberg chased a new premium strategy in the country, it said.

• Eastern Europe - Sales +16%, operating profits +39%, volumes -9%
Volumes were down in the region because of the introduction at the start of the year of a ban on large PET bottles in Russia - according to Carlsberg, volumes in the overall Russian beer market were down an estimated 5% for the six months. Cold weather and a challenged Russian economy also contributed to the brewer's performance in the country. However, a 3.2 percentage point rise in Eastern Europe operating margins, helped by cost-cutting measures, drove impressive increases in profits for the region. There was also volumes growth in Ukraine, Kazakhstan and Belarus.

• Asia - Sales +1%, operating profits +13%, volumes -5%
There was a similar story in Asia - strong margin expansion (2 percentage points) lifting profits, despite weak volumes. China net sales grew organically by 8%, driven by 5% price mix and 3% organic volumes growth. The growth follows the closure of 18 breweries in the country since 2015. In India, Carlsberg said it had been affected by the highway liquor ban but noted that it outperformed the overall beer market. "We expect India to remain volatile for the remainder of the year," the company said.

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